The Kemmons Wilson Hospitality Practice at Virtus specializes in crafting tailored insurance solutions to address the unique challenges faced by our clients. By thinking strategically and digging deep, we uncover opportunities to optimize program design for cost, coverage, and administration. Here are four success stories that highlight the impact we can make:
Success Story 1: Reducing Workers’ Compensation Claims
A multinational hotel management company faced high workers’ compensation claims. Through a targeted training and risk mitigation program, we helped reduce claims frequency and severity.
Results:
When we began, their Experience Modification Factor (EMod) exceeded 1.50, leading to inflated costs. Today, it’s below 0.70—a dramatic improvement driving down both claims spend and premiums.
Success Story 2: Better Marketing, Better Coverage
A client with significant hurricane exposure faced rising insurance costs. By redesigning insurance program, engaging underwriting teams, and bringing risk engineers on-site, we reframed their resort’s underwriting profile in the insurance market.
Results:
We secured an additional $50 million in coverage while reducing premiums by over 10%, balancing enhanced protection with savings.
Success Story 3: Premium Reduction Through Strategic Options
For a client heavily exposed to California wildfire risk, we restructured their program to meet a specific budget goal. By offering three carefully designed options, we achieved premium targets while protecting their balance sheet.
Results:
The client took on calculated additional risk, reducing premium costs by 35% without compromising essential coverage.
Success Story 4: Simplifying and Saving with a Master Program
A client managing 15+ luxury properties across the East Coast had outgrown their insurance strategy, juggling 50+ policies with multiple renewal dates. We proposed a streamlined master program to simplify their coverage.
Results:
We consolidated their coverage into 7 policies with a single renewal date, reducing their spend by approximately 12% while improving the programs efficiency.
The Virtus Diligence Process
Want to see how your company can optimize its insurance program?
Our diligence process begins with understanding your business and risk landscape. We then provide the insights you need to make confident decisions and partner with you to find a better way to transfer your risk.
Some Results from Our Process:
- Identified coverage gaps that violated loan covenants.
- Discovered duplicate insurance for the same exposure.
- Found unscheduled properties that would have been uninsured in a loss.
- Flagged unfavorable vendor contract terms and guided revisions to protect clients.
Ready to see what’s possible for your insurance program?
Contact us for a complimentary review and discover how the Virtus team can help you improve your coverage, reduce costs, and simplify administration.
